Car buying should be fun, but for those with less than perfect credit or first-time buyers, it can be a headache. Traditional dealerships require very specific qualifications before allowing you to purchase or lease a vehicle. Car lots that offer a “buy here, pay here” option that provides opportunities to buyers that don’t match specific credit requirements can come as a significant relief for many in the market for a car.
About Buy Here Pay Here Lots
What sets these dealerships apart from the usual dealers is that they handle everything in-house. This means that you don’t have to go back and forth with the dealer and jump through all the hoops, as they take care of everything for you. This includes securing a car loan with bad credit.
Building Credit Foundation
If you decide to purchase from a do-it-all dealership, they will more than likely require a more rigorous payment process. Paying bi-weekly in all cash isn’t meant to torture you, but it enables you to take a more active role in getting your finances on track. Making on-time payments is one of the major factors in building a strong rapport with the three credit bureaus, so it may be annoying now, but just remember that it is helping you to create a stronger foundation for your credit in the future.
Buy here pay here car dealers are sometimes perceived in a negative light. The truth is, however, that they are willing to take a risk on you when other dealers turned you away. Of course, you are expected to hold up your end of the deal, but that would be expected anywhere. It is a fact that not everyone has good credit or any credit, so dealerships offering a car loan with bad credit help many individuals and gives them a chance to gain stability, responsibility, and freedom.
Becoming a Car Owner Faster
Another advantage of a buy here pay here vehicle dealer is that the loan terms are generally a lot shorter than a traditional lot. No one wants to pay for years on a car that is slowly losing value every day. When opting to do business with an alternative dealer, you can pay the car off more quickly and achieve vehicle ownership much more rapidly.
What Do You Have to Lose
When choosing a car loan with bad credit, it is ok to err on the side of caution. Let’s face it, there are a lot of scammers out there. However, when dealing with a reputable company, most of the time they aim to represent the little guys that other car salesmen won’t work with. In most cases, buy here pay here dealers can offer low down payments to help smooth the burden of purchasing a car. They also carry many different makes and models, so you don’t have to venture around town to find your perfect match. Doing all the paperwork and processing in-house also saves you time, so all in all, the only thing you are really risking is the chance of being without a car.
Take the pressure off buying your next car, no matter what your credit looks like. Visit us – We can’t wait to get you on the road.